August 11, 2021
A guide to achieving an expedient and cost-effective audit
In this era of the 24- hour news cycle and instant social media amplification of any scandal, nonprofit organizations have to be more cautious than ever about their stewardship. Funders have seen and heard too many stories of fraud, malfeasance, and poor financial leadership within the nonprofit industry. Beyond legal compliance, there are four primary ways that having an audit can help a nonprofit organization:
- Audits guard the reputation of a well-managed nonprofit organization.
- With greater competition for donors, audits help secure funding.
- Funders rely on audits to provide confirmation of accountability and compliance.
- An audit increases transparency into financial management, performance, and impact.
- Audit Process: What Goes into a Nonprofit Audit?
- Accelerating the Process: Achieving an Expedient, Cost-Effective Audit
- Automation: Producing Audit-Ready Financials in the Cloud